Launched in mid-December, Binance Custody has expanded its list of supported cryptocurrencies by adding Shiba Inu (SHIB), Audius (AUDIO), and other cryptocurrencies.
Binance Custody adds SHIB and these 4 altcoins!
Shiba Inu (SHIB), Audius (AUDIO), Perpetual Protocol (PERP), SKALE Network (SKL), and Injective (INJ) are now supported by Binance Custody, according to an announcement on Feb. 20. Due to the proliferation of crime in the cryptocurrency industry, institutional investors often rely on third-party custody services to protect their assets rather than control them.
Cryptocurrency custodians store clients’ private keys and often offer insurance for the crypto assets they manage. Companies like Gemini and Nuri also offer custody services for retail investors, but BitGo and Paxos only accept institutional clients such as funds and family offices. The crypto giant offers an insurance plan to its customers. Binance Custody aims to complete the independent SOC 2 Type 2 exam to prove its operational safety.
Binance Custody has listed 4 more altcoins!
Binance relies on secure multilateral computing (MPC) to distribute control over clients’ funds. Qualified wallet solution is used for secure storage. Earlier this month, Binance Custody started rolling out support for Gala (GALA) Zilliqa (ZIL), WINkLink (WIN), and Immutable X (IMX).